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Ford to spend $610 million to recall 3 million vehicles

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A visitor walks past a Ford Escape Titanium at an auto show last April.

Greg Baker | AFP | Getty Images

DETROIT – Ford Motor will recall 3 million older vehicles due to potential issues with their airbag inflators, costing the automaker an estimated $610 million.

The company confirmed the cost in a filing Thursday with the Securities and Exchange Commission after the closing bell. Ford stock fell into the red during after-hours trading, down about 2%. The shares ended Thursday up 6.2% at $11.53 a share — the stock’s highest close since June 2018. Ford’s market cap is more than $45 billion.

In the filing, Ford said the expense will be treated as a special item as part of its…



Source cnbc.com

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